The new CEO wants to meet with you and hear an account of everything that Marketing is doing for the bottom line. Are you equipped to defend your strategies?
While healthcare is lagging behind other industries when it comes to marketing spend, it's critical to have a strong business case for every budget dollar allocated. Relying on measurable data is the easiest and fastest way to show that your initiatives are working.
Keep these tips in mind to tell the most effective possible story about marketing’s impact:
Simplify the Story
Break down the prospect experience into the fundamental components of consumer marketing: Awareness, Active Evaluation, Decision-Making, and Follow-up. Show what you’re doing at every step of that progression to drive more dollars through the door. Flex those content-creating, storytelling muscles to explain your efforts at the beginning, middle and end of the process.
Do Your Homework
If a customer relationship management (CRM) tool is in place, it’s critical to leverage the data prior to running any marketing campaigns. Make sure the key performance indicators are well defined as well, so you’ve defined “success” in as specific a way as possible.
Going in with plenty of work on the front end not only helps ensure success; it cushions the blow of a campaign that didn’t deliver for reasons beyond your control. The numbers don’t lie, and if they clearly supported your initial decision, they may help cushion the blow of a less-than-stellar performance — and help optimize future campaigns.
Go Easy on the Awards
Great marketing campaigns can win awards for those who produce them. However, awards alone don’t signify a successful marketing campaign. Don’t lean too heavily on accolades from the marketing industry. The highest accolade your C-suite recognizes is a better bottom line, so make sure you're measuring and reporting the metrics that matter to leadership.
One of the most important things data can tell you is where to make improvements. Set up your campaigns and initiatives with room to pivot if one aspect is performing better than another. Catching and adapting to those discrepancies early helps you show the boss you’re using marketing dollars to hone a more effective message throughout a campaign, rather than just applying a “set-it-and-forget-it” approach.
Keep on Measuring
Data should be collected throughout every phase of marketing. While it can sometimes be tricky to gather an ROI on certain marketing platforms, it’s always crucial to keep the data flowing in. Some campaigns take time to have an impact based on consumer decision cycles, reimbursement timelines, physician referral patterns and other dynamics, so be prepared for long-term measurement and projections.
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